KUNGÄLV, Sweden, Nov. 5, 2021 /PRNewswire/ --
PERIOD 1 JULY - 30 SEPTEMBER
2021
- Net sales amounted to SEK 1,663.5
million, which was 13% (14% in local currencies) higher than
last year (SEK 1,470.1
million).
- Operating result amounted to SEK
261.1 (176.3) million.
- Result for the period amounted to SEK
196.0 (118.9) million.
- Earnings per share amounted to SEK
2.97 (1.81).
- Cash flow from operating activities amounted to SEK 241.8 (283.2) million.
PERIOD 1 JANUARY - 30 SEPTEMBER
2021
- Net sales amounted to SEK 4,411.9
million, which was 4% (9% in local currencies) higher than
last year (SEK 4,225.6
million).
- Operating result amounted to SEK
602.6 (262.3) million.
- Result for the period amounted to SEK
451.5 (154.8) million.
- Earnings per share amounted to SEK
6.85 (2.38).
- Cash flow from operating activities amounted to SEK 794.2 (649.1) million.
- Equity ratio amounted to 60,0 (49.0) %.
- Net debt to equity ratio amounted to 25.1 (62.1) %.
CEO COMMENTS
JULY - SEPTEMBER
Another record performance.
I feel great joy and pride for our results in the third quarter.
Although the pandemic is not over yet, and definitely was not over
during this quarter, society is opening up more and more. Just as
we predicted in previous reports, demand is increasing and we are
heading for a strong autumn. Sales increased by 13% to SEK 1,663.5 million and almost reached the 2019
level. As the market has not fully recovered, this in all
probability means that we are taking real market share. In terms of
earnings, it was a new ALL TIME HIGH for a third quarter and
operating profit increased by 48% from SEK
176.3 million to SEK 261.1
million and the operating margin was a full 15.7%. Earnings
after net financial items increased by 55% to SEK 250.1 million and the results for the period
increased by 65% to SEK 196.0
million. It is also noteworthy that both sales channels had
growth, profile increased by 7% and retail by as much as 22%. All
segments improved their operating profit and we continued to have a
strong cash flow.
JANUARY - SEPTEMBER
Net sales increased by 4% to SEK 4,411.9
million, operating profit increased by 130% to SEK 602.6 million and the operating margin was
thus 13.7%. Result after net financial items increased by 169% to
SEK 569.5 million and result for the
period increased by as much as 192% to SEK
451.5 million. Also notable is the strong cash flow of
SEK 794.2 million, although I
actually prefer it to have been lower in favor of a larger
inventory given the current longer lead times within production and
transportation.
ROLLING 12 MONTHS
Net Sales for the rolling full year amount to SEK 6,285.1 million with an operating profit of
SEK 886.2 million, which gives an
operating margin of 14.1%. Results after finance amounts to
SEK 838.7 million and result for the
period to SEK 659.7 million. It is
gratifying with the special focus on improved margins that we
initiated and communicated to the markets just over a year ago has
yielded such rapid results. For the full year 2019, the operating
margin was 7.7% and in the rolling 12 months it now amounts to
14.1%. It is also notable that EBITDA for rolling 12 months for the
first time exceeded SEK 1.1 billion
and cash flow on rolling 12 months amounted to SEK 1,351.1 million.
BALANCE SHEET
From a historical perspective, our balance sheet is very strong.
With equity of SEK 4,552.3 million,
an equity to assets ratio of 60% and a record low level of
indebtedness, it provides a very strong foundation and it gives us
great opportunities for both acquisitions and organic growth when
the right opportunities come.
CRAFT - FANTASTIC DEVELOPMENT!
Even though virtually all of our companies and brands are
developing well, I still want to highlight Craft, which is
developing exceptionally well. The pre-orders from retail customers
for the spring of 2022 increased by an average of 65% compared to
2021. 2021 was a good year, so compared to 2020, the increase is as
much as 110%. Although Craft is gratifyingly growing in all markets
and in all product segments, I am delighted to see the growth in
Teamwear & Club and shoes.
We have proven with the breakthrough in Teamwear & Club and
the development of shoes that Craft can succeed quickly in new
segments and today we are growing significantly in all sports,
especially in football with Teamwear & Club. We have fantastic
growth with shoes. Our spring collection has now been introduced to
the retail chain Fleet Feet in the USA. That we are breaking
into the American market is extremely gratifying! Craft has many
years of profitable growth ahead of it!
FUTURE
I believe more than ever in the future based on our progress to
date!
Of course there are some clouds of unrest, COVID-19 is still one
for me, freight capacity from Asia
and longer lead times another - but the clouds of unrest are still
far fewer and smaller than 1.5 years ago. If your biggest concern
is to get everything you can sell, it is still a much nicer
situation than being worried about whether you can or will sell. Of
course, as I always write, there may be some results that become
weaker, but over time we are in every way stronger than ever and
the future is ours!
Thank you to all loyal customers and consumers, thank you to all
the shareholders and thank you to all the staff who do their utmost
to build New Wave every day, hour and minute!
Torsten Jansson, CEO
FOR MORE INFORMATION, PLEASE CONTACT:
CEO and Group CEO
Torsten Jansson
Phone: +46 31-712 89 01
E-mail: torsten.jansson@nwg.se
CFO
Lars Jönsson
Phone: +46 31-712 89 12
E-mail: lars.jonsson@nwg.se
This information is information that New Wave Group AB is
obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency
of the contact persons detailed above, at 7.00 a.m. CET on November
5, 2021.
If you want to sign up for, or unregister from, future messages
from New Wave Group, please send an email to info@nwg.se.
This information was brought to you by Cision
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SOURCE New Wave Group